That is the opinion of Ferrari chairman Luca di Montezemolo, who has taken another swipe at ­Ecclestone, 82, who has been F1’s ringmaster for nearly 40 years.

Di Montezemolo said: “The era of the one-man show cannot continue. It is finished.”

The Ferrari chief failed to praise Ecclestone for masterminding F1’s huge expansion in the last few years and instead said: “Godfathers no longer exist – at least not in Formula One.”

Ecclestone, who is worth an estimated £1.75billion, is under investigation for allegedly offering a £25m bribe to a German banker to push through the sale of grand prix racing to CVC, the equity firm he represents, back in 2006. But Ecclestone said: “I would be worried if I was guilty – but I’m not.”

Di Montezemolo, though, says Ecclestone’s denial of any wrongdoing does not make any difference as to whether he should stay in charge or not.

He said: “If Bernie is accused then it could be bad for Formula One.”

The outburst from the Italian stems from a spat with Ecclestone, when the Englishman called Ferrari’s protest after the final race of last season, when Sebastian Vettel claimed his third world championship, “a joke”.

And Di Montezemolo, 65, added: “My father always taught me that you have to respect your elders. So I will stop there.”

His hints that Ecclestone should step aside did not impress the billionaire, who said: “Me quit voluntarily? That’s a non-starter.

“Despite what anybody might say or wish, the only way I am going to leave this job is if I get a call from the good Lord and he wants me up there.”